And now, a currency war?

Scott Tong Jul 20, 2018
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A man looks at information posted on a bank door showing how to distinguish real banknotes in Beijing on July 20, 2018. - China's yuan continued its steady decline on July 20, defying US President Donald Trump's warning over the dollar's rise and providing Beijing with a buffer against punitive trade tariffs imposed by Washington.  WANG ZHAO/AFP/Getty Images

And now, a currency war?

Scott Tong Jul 20, 2018
A man looks at information posted on a bank door showing how to distinguish real banknotes in Beijing on July 20, 2018. - China's yuan continued its steady decline on July 20, defying US President Donald Trump's warning over the dollar's rise and providing Beijing with a buffer against punitive trade tariffs imposed by Washington.  WANG ZHAO/AFP/Getty Images
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President Donald Trump today accused Beijing of manipulating its currency. This is not a new charge. But what has occurred is an 8 percent fall in the Chinese currency against the dollar since the trade spat began in the spring. That helps Chinese exporters, because it effectively makes their products cheaper.  

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